Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Lindblad Expeditions $LIND

Key Points

• Connor Clark & Lunn Investment Management bought 288,339 Lindblad Expeditions shares worth approximately $8.14 million, giving it a 0.44% stake. Institutional investors collectively own 75.94% of the company.
• Analyst sentiment is mixed, with four Buy, three Hold, and one Sell rating; the consensus rating is Hold with a $31.20 price target.
• Lindblad reported quarterly revenue of $199.25 million and an EPS loss of $0.02, beating analyst expectations. The stock opened at $31.19 and trades within a 52-week range of $11.37 to $35.00.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Lindblad Expeditions (NASDAQ:LIND - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 288,339 shares of the company's stock, valued at approximately $8,143,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.44% of Lindblad Expeditions as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LIND. Allworth Financial LP bought a new stake in shares of Lindblad Expeditions in the 2nd quarter worth approximately $38,000. Silvant Capital Management LLC bought a new stake in shares of Lindblad Expeditions during the second quarter valued at approximately $58,000. Osaic Holdings Inc. raised its stake in shares of Lindblad Expeditions by 58.1% in the second quarter. Osaic Holdings Inc. now owns 3,597 shares of the company's stock valued at $41,000 after purchasing an additional 1,322 shares in the last quarter. State of Wyoming bought a new position in Lindblad Expeditions in the second quarter worth $109,000. Finally, Kemnay Advisory Services Inc. bought a new position in Lindblad Expeditions in the fourth quarter worth $57,000. 75.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LIND. Capital One Financial set a $31.00 price target on shares of Lindblad Expeditions in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of Lindblad Expeditions in a report on Thursday, August 6th. Zacks Research cut shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Benchmark increased their price target on shares of Lindblad Expeditions from $25.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Lindblad Expeditions in a research note on Friday, July 17th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.20.

Lindblad Expeditions Price Performance

Lindblad Expeditions stock opened at $31.19 on Thursday. The stock has a fifty day moving average price of $29.27 and a two-hundred day moving average price of $23.03. Lindblad Expeditions has a 52-week low of $11.37 and a 52-week high of $35.00. The firm has a market capitalization of $2.05 billion, a P/E ratio of -82.08 and a beta of 2.24.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.08. Lindblad Expeditions had a negative return on equity of 0.56% and a negative net margin of 2.08%.The company had revenue of $199.25 million during the quarter, compared to analysts' expectations of $185.86 million. On average, equities research analysts predict that Lindblad Expeditions will post 0.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael Elliott Bisnow sold 44,642 shares of Lindblad Expeditions stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $24.21, for a total transaction of $1,080,782.82. Following the completion of the transaction, the director directly owned 25,872 shares of the company's stock, valued at $626,361.12. This trade represents a 63.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 26.10% of the stock is owned by company insiders.

Lindblad Expeditions Profile

Lindblad Expeditions NASDAQ: LIND is a global leader in expedition cruising, specializing in immersive small-ship voyages to some of the world's most remote and wildlife-rich regions. The company operates a fleet of purpose-built vessels designed to navigate challenging waters and shorelines, offering guests up-close encounters with natural environments such as the polar ice caps, the Galápagos Islands, Costa Rica's rainforests and the waterways of Alaska, Patagonia and the Arctic.

Founded on the pioneering spirit of Lars-Eric Lindblad, regarded as the father of expedition travel, Lindblad Expeditions carries forward a legacy of discovery that dates back to the 1960s.

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